The Beast, the world’s longest wooden rollercoaster, is a top attraction at Kings Islands in Mason, Ohio. A recent rider had the experience of his life when Geico, his car insurance company, mistook the twists and turns of the rollercoaster for reckless automobile driving. As a result, his rating on Geico’s safe driving app, DriveEasy, was lowered.
The app allows users to contest a rating change and report errors in the app, so all was corrected in the end. But this amusing story shows that people rely on discount programs – and take their ratings seriously – to obtain any form of savings as automobile insurance prices continue to rise.
According to Insurify, auto insurance policies increased 24% in 2023. Bankrate reported a 26% increase in 2024. This surge has happened in part to a rise of losses for insurance companies in their auto liability lines. Losses are attributed to natural disasters (from hurricanes to hail), automobile theft and an increase in reckless driving.
Insurance rates are determined by a combination of credit history, driving records, vehicle type, demographics, and the amount of daily driving. This leaves individuals and companies trying to find ways to save. The simplest path to savings is taking any avenue possible to safety because insurance providers reward companies in various ways for safe practices.
Some companies turn to telemetric devices on their fleets to automatically generate data. Such devices track driving behavior, braking patterns, vehicle speed and other metrics. The data then can be given to insurance providers to receive discounts.
Others create a fleet safety program where employees can build a safe driving track record. The program is an opportunity to review telemetrics, accidents and speeding tickets, as well as to reward positive safe driving behavior. Insurance companies sometimes offer additional discounts for companies that have such programs.
To further lower risks, follow the lead of those who started a vehicle maintenance program. This is a win-win step that can extend the life of your vehicle and save you money (no need to buy new trucks as often), while showing insurance companies how you invest in an aspect of fleet safety. You guessed it, some insurance providers offer more discounts for proving routine maintenance.
Other ways to save are by working with your insurance company to determine if new saving programs apply or discounts can be offered in new ways. There is no harm in shopping around for cheaper rates with other insurance providers; unfortunately, the loyalty programs of the past rarely exist today.
Savings may be minimal, but they can add up to investments in other areas of your company. Beyond monetary issues, any form of a safety program ultimately creates driver accountability and shows your employees you value safety and expect compliance. Employees should know the twists, turns and daring adventures can be saved for amusement parks, not the road.
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